ICICI Bank (NYSE:IBN) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

ICICI Bank Limited (NYSE:IBN - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.29 and traded as high as $30.30. ICICI Bank shares last traded at $30.2070, with a volume of 5,506,090 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen raised ICICI Bank from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Zacks Research raised ICICI Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Sanford C. Bernstein upgraded ICICI Bank from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of ICICI Bank from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, ICICI Bank presently has a consensus rating of "Moderate Buy".

ICICI Bank Price Performance

The stock has a market capitalization of $108.36 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.67 and a beta of 0.42. The firm has a 50 day moving average price of $28.74 and a 200 day moving average price of $28.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

ICICI Bank (NYSE:IBN - Get Free Report) last announced its quarterly earnings data on Sunday, July 19th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. ICICI Bank had a return on equity of 13.81% and a net margin of 25.60%.The business had revenue of ($2,429.85) million for the quarter, compared to the consensus estimate of $3.32 billion. Research analysts anticipate that ICICI Bank Limited will post 1.65 earnings per share for the current year.

Institutional Investors Weigh In On ICICI Bank

Several large investors have recently added to or reduced their stakes in the stock. E. Ohman J or Asset Management AB raised its holdings in shares of ICICI Bank by 7.0% in the second quarter. E. Ohman J or Asset Management AB now owns 1,343,744 shares of the bank's stock worth $39,009,000 after buying an additional 87,595 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in shares of ICICI Bank during the second quarter valued at approximately $283,000. Confluence Investment Management LLC boosted its holdings in shares of ICICI Bank by 11.2% in the second quarter. Confluence Investment Management LLC now owns 12,186 shares of the bank's stock valued at $354,000 after purchasing an additional 1,229 shares during the period. NewEdge Advisors LLC grew its stake in ICICI Bank by 6.5% in the first quarter. NewEdge Advisors LLC now owns 22,711 shares of the bank's stock worth $588,000 after purchasing an additional 1,393 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its stake in ICICI Bank by 12.7% in the first quarter. Liontrust Investment Partners LLP now owns 319,452 shares of the bank's stock worth $8,274,000 after purchasing an additional 36,007 shares in the last quarter. 18.18% of the stock is owned by institutional investors.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India's largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank's core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.

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